Gold Buoyed as Hedge Fund Titan Sees Leaders `Playing Chicken'
- Spot price gains to highest since June as Korean tensions rise
- Dalio advises investors to hold 5% to 10% of assets in bullion
In today's 'Futures in Focus,' Ira Epstein, senior market analyst at Ira Epstein Division of Linn & Associates, and Bloomberg's Vonnie Quinn examine the impact on the gold market from tensions between the United States and North Korea. They speak on 'Bloomberg Markets.' (Source: Bloomberg)
Gold advanced to the highest in two months as the spike in tensions between the U.S. and North Korea fanned demand, with hedge fund billionaire Ray Dalio flagging rising risks including “two confrontational, nationalistic, and militaristic leaders playing chicken with each other.”
Bullion for immediate delivery rose as much as 0.4 percent to $1,292.10 an ounce, the highest since June 7. It traded at $1,286.10 by 11 a.m. in New York, according to Bloomberg generic pricing. The metal is up 2.2 percent this week, and 12 percent in 2017. Miners’ shares rose.